The Latest Engineering Plastic Industry Statistics Explained
The global engineering plastics market size was valued at $80.70 billion in 2019.
The statistic indicates that the total market value of engineering plastics worldwide amounted to $80.70 billion in the year 2019. Engineering plastics are a type of high-performance polymers that are used in various industries such as automotive, electronics, aerospace, and healthcare for their superior mechanical properties, heat resistance, and chemical stability. The market size value provides insights into the scale and economic importance of the engineering plastics industry on a global scale, reflecting the demand for these materials in manufacturing and production processes across different sectors.
The Indian plastics engineering industry’s growth rate was estimated at 10% in 2020.
The statistic indicates that the Indian plastics engineering industry experienced a growth rate of 10% in 2020. This growth rate suggests that the industry has shown positive development and expansion over the course of the year. A growth rate of 10% signifies that the industry has increased its output, production, or revenue by 10% compared to the previous year. This is a significant growth rate and implies that the Indian plastics engineering industry has been performing well and attracting investments or new opportunities in 2020 despite the challenges posed by various factors such as the COVID-19 pandemic.
North America accounted for 20.2% of the global engineering plastics market share in 2019.
This statistic indicates that North America held a market share of 20.2% within the global engineering plastics market in 2019. This suggests that a significant portion of the demand and consumption of engineering plastics, which are high-performance polymers used in various industrial applications, was attributed to North American countries. The statistic highlights the region’s importance and influence in the engineering plastics industry compared to other regions worldwide, showcasing North America’s substantial contribution to the global market in terms of production, consumption, and overall market value for engineering plastics in that specific year.
The automotive sector generated over 25% of engineering plastics revenue in 2019.
The statistic states that in 2019, the automotive sector contributed to generating more than a quarter, specifically over 25%, of the total revenue from engineering plastics. This indicates a substantial reliance on engineering plastics within the automotive industry, likely for a variety of applications such as manufacturing parts, components, and materials used in vehicles. The statistic suggests that the automotive sector is a significant market for engineering plastics, highlighting the importance of this sector in driving the demand and utilization of these specialized materials.
The expected CAGR for the engineering plastics market from 2020-2027 is 5.3%.
The expected compound annual growth rate (CAGR) for the engineering plastics market from 2020 to 2027 is projected to be 5.3%. This statistic indicates the average annual growth rate that the market is expected to experience over the specified period. A CAGR of 5.3% suggests that the market is anticipated to steadily expand by this percentage each year between 2020 and 2027. This information can be crucial for industry stakeholders, investors, and policymakers in understanding the potential growth trajectory of the engineering plastics sector and making informed decisions based on these projections.
The engineering plastics industry in Europe is expected to reach an estimated $33 billion by 2025.
The statistic provided indicates that the engineering plastics industry in Europe is projected to achieve a total market value of approximately $33 billion by the year 2025. This estimation suggests significant growth and economic significance within the industry over the specified time period. Factors contributing to this growth may include advancements in technology, increasing demand for engineering plastics in various manufacturing sectors, and potentially favorable regulatory environments. The forecasted market value underscores the industry’s potential for expansion and highlights the importance of engineering plastics within the European market as a key component of various industrial processes.
ABS (Acrylonitrile Butadiene Styrene) held the largest market share of 29.4% in the engineering plastics market in 2019.
The statistic “ABS (Acrylonitrile Butadiene Styrene) held the largest market share of 29.4% in the engineering plastics market in 2019” indicates that among all the different types of engineering plastics available in the market in 2019, ABS was the most widely used, capturing nearly a third of the total market share. This implies that ABS was a popular choice among manufacturers and industries for various applications due to its desirable properties such as strength, impact resistance, and ease of processing. The significant market share held by ABS also suggests its strong competitive position and preference over other engineering plastics in the market during that time period.
Engineering plastics play a significant role in the electrical & electronics industry, reaching an estimated $22.5 billion by 2025.
The statistic provided indicates the substantial impact of engineering plastics within the electrical and electronics industry, with a projected market value of $22.5 billion by the year 2025. Engineering plastics are a crucial component in the manufacturing of various electrical and electronic products due to their desirable properties such as high strength, heat resistance, and chemical resistance. This substantial market value indicates the widespread use and importance of engineering plastics in enabling the production of innovative and advanced products within the electrical and electronics sector. The steady growth in this market highlights the ongoing demand for engineering plastics and their continued significance in facilitating technological advancements within the industry.
The market for engineering plastics in China was valued at $21.03 billion in 2018.
The statistic that the market for engineering plastics in China was valued at $21.03 billion in 2018 indicates the total financial worth of the industry within the country during that year. This figure reflects the amount of money generated through the production, sale, and consumption of engineering plastics in China, highlighting the significant economic activity and demand for these materials within the market. It serves as a key indicator of the industry’s size, growth potential, and importance in the overall economy, showcasing the attractiveness of the engineering plastics sector for investors, manufacturers, and other stakeholders looking to capitalize on opportunities within the Chinese market.
The global engineering plastics market is projected to reach 26.03 billion Kg by 2021.
The statistic states that the total volume of engineering plastics consumed worldwide is expected to reach 26.03 billion kilograms by the year 2021. This figure represents the projected growth and demand within the engineering plastics market over the specified time period. The statistic likely comes from market research and industry analysis, indicating that manufacturers and users are increasingly relying on engineering plastics for various applications in sectors such as automotive, electronics, and construction. The projected volume signifies the scale of production and consumption of engineering plastics on a global scale, reflecting the continued importance and expansion of this sector within the overall plastics industry.
The global conductivity of engineering plastics is expected to grow at a CAGR of over 5% during 2020-2025.
This statistic indicates that the global conductivity of engineering plastics is projected to increase steadily at a compound annual growth rate (CAGR) exceeding 5% over the period from 2020 to 2025. This suggests a positive trend in the conductivity properties of engineering plastics, likely driven by advancements in material science and technology. The forecasted growth rate highlights the growing demand and utilization of engineering plastics with enhanced conductivity in various industries such as electronics, automotive, and aerospace. Manufacturers and stakeholders in the engineering plastics industry may capitalize on this opportunity by investing in research and development to meet the increasing market demand for high-conductivity materials.
Demand for engineering plastics in Japan is expected to reach $3 billion by 2024.
The statistic implies that there is a growing demand for engineering plastics in Japan and that it is projected to continue increasing significantly over the next few years, reaching $3 billion by 2024. This suggests that the engineering plastics industry in Japan is experiencing significant growth and opportunities for manufacturers, suppliers, and other stakeholders in this sector. Factors contributing to this increasing demand could include the expanding industrial and manufacturing sectors in Japan, advancements in technology requiring engineering plastics, as well as potential shifts towards more sustainable and durable materials. Overall, the statistic paints a positive picture of the future prospects of the engineering plastics market in Japan.
Renewable engineering plastics are expected to surge demand, with projected CAGR of 11.3% from 2021 to 2031.
This statistic indicates that there is a significant growth anticipated in the demand for renewable engineering plastics over the period from 2021 to 2031. The Compound Annual Growth Rate (CAGR) of 11.3% suggests a strong and steady increase in demand for these sustainable plastics, likely driven by factors such as environmental concerns, regulatory initiatives, and technological advancements promoting the use of renewable materials in the engineering industry. This projection implies a growing market opportunity for renewable engineering plastics in sectors like packaging, automotive, construction, and electronics, aligning with the global trend towards sustainability and circular economy practices.
The electric vehicle industry is projected to significantly impact the demand for engineering plastics, with an anticipated demand of 1.9 million tons by 2026.
The statistic regarding the electric vehicle industry’s projected impact on the demand for engineering plastics suggests a substantial increase in demand within a relatively short time frame. The anticipated demand of 1.9 million tons by 2026 indicates a growing reliance on engineering plastics for manufacturing components in electric vehicles. This trend reflects the shift towards sustainable and environmentally friendly transportation solutions, as engineering plastics are lightweight, durable, and offer high performance characteristics necessary for electric vehicle applications. The statistic underscores the transformative effect the electric vehicle industry is having on the materials market, driving significant growth opportunities for manufacturers and suppliers of engineering plastics.
The demand for bioengineering plastics in the European market is predicted to reach 240,000 tons by 2025.
The statistic that the demand for bioengineering plastics in the European market is predicted to reach 240,000 tons by 2025 indicates a foreseeable increase in the market demand for environmentally-friendly plastics. This prediction suggests a growing trend towards sustainable and eco-friendly materials in response to increasing environmental concerns and regulations. The use of bioengineering plastics, which are derived from renewable resources or natural sources, is expected to gain traction in various industries due to their lower environmental impact compared to traditional plastics. The projected demand of 240,000 tons by 2025 serves as a valuable insight for stakeholders in the bioengineering plastics industry to plan and strategize for meeting the future market requirements.
Germany held a market share of over 20% in the Europe engineering plastic industry in 2017.
This statistic indicates that Germany dominated the European engineering plastic industry in 2017 by capturing a market share of more than 20%. This high market share suggests that Germany was a significant player in the industry, outperforming other European countries in terms of production, sales, or innovation of engineering plastic products. This strong presence could be attributed to factors such as advanced technology, skilled workforce, efficient supply chain, and favorable business environment in Germany. An over 20% market share signifies a competitive advantage for Germany in the engineering plastic sector within the European market landscape.
The global market for engineering resins and polymer alloy/blends is expected to reach 29.9 million metric tons by 2022.
The statistic indicates that the global market for engineering resins and polymer alloy/blends is projected to grow significantly, reaching a total volume of 29.9 million metric tons by the year 2022. This growth suggests a high demand for these materials in various industries such as automotive, electronics, and packaging. The increasing usage of engineering resins and polymer alloy/blends can be attributed to their superior properties, including strength, durability, and resistance to heat and chemicals. This statistic implies a positive outlook for the market and highlights the importance of these materials in meeting the evolving needs of modern manufacturing processes and product development.
The engineering plastics market in Mexico is expected to grow at a CAGR of 6.1% during the period 2019-2024.
The statistic indicates that the engineering plastics market in Mexico is projected to experience a Compound Annual Growth Rate (CAGR) of 6.1% between the years 2019 and 2024. This growth rate suggests a steady and consistent increase in the demand and production of engineering plastics within the Mexican market over the specified timeframe. Factors driving this growth could include technological advancements, increasing industrialization, and rising demand from various end-user industries. The CAGR provides a useful metric for investors and businesses to gauge the potential expansion and opportunities within the engineering plastics sector in Mexico over the forecasted period.
The global market for engineering plastics is expected to become triple the size of the commodity plastics market by 2030.
This statistic indicates a significant growth and shift in market dominance towards engineering plastics compared to commodity plastics by the year 2030. Engineering plastics are specialized high-performance polymers that offer superior mechanical, thermal, and chemical properties compared to traditional commodity plastics like polyethylene and polypropylene. The expected tripling in size suggests a rising demand for engineering plastics across various industries such as automotive, electronics, and construction due to their unique characteristics and versatility in product design and performance. This trend signifies a notable preference for advanced engineering materials that can meet the evolving needs of modern applications, driving the forecasted market expansion and potentially reshaping the overall landscape of the global plastics industry.
Conclusion
In conclusion, the statistics presented highlight the significant growth and potential within the engineering plastic industry. With increasing demand across various applications and sectors, it is evident that this industry is poised for continued expansion and innovation. Companies and stakeholders in this sector can leverage these insights to make informed decisions and capitalize on the lucrative opportunities available. As technology and sustainability continue to drive advancements in materials and processes, the engineering plastic industry is set to play a crucial role in shaping the future of manufacturing and product development.
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